The Ex-Intel Exec Who Told His CEO: "You're Losing to Nvidia

0:02Family Office Podcast Host: And last but not least, I want to turn it over to Ujwal. He is not a billionaire, but he's on this panel because he's about to be one. And he has some excellent tips and technologies that we should all be paying attention to and that may be critical for us. So I will turn it over to him to close us out.

0:21Unnamed Ex-Intel Executive: Thank you, Dr. Cook. So before going into the business world, I'm kind of an engineer turned into entrepreneur. So I worked as an AI engineer for companies like Meta, Intel, IBM, Micron, working from like chip design level all the way to the firmware level to the software level. I had a very good look, like early look on AI around 2015, 2016 timeframe where I played around with the early versions of these modern LLMs, large language models like Claude or Chad GPT that you guys might be familiar with today. the first time that I play around with we had like a PDF that we ingested in the engine and then we could have like a very very lengthy discussion just out of the PDF and that was talking to me and then at that time I told my bosses at Intel that oh my god if somebody builds a scalable system out of it and then there's an API this is going to put a dent in the world and people are like what the hell are you talking about it's just an it's just a small the Tencent engine and then slowly actually moved up in the ranks in Intel became one of the engineering executives got close to our CEO Pat Jelsinger at the time and then I told him that Intel is not winning the AI race with NVIDIA and all his executives and him they were like what the hell are you talking about like Intel is Intel and NVIDIA is just a smaller startup and Pat was like I know Jensen and yeah he's trying but and I was like they and it's not because Intel did not have enough funding that they were not able to beat Nvidia right it was a direction of the company right and the reason I'm talking about it over here is that companies like Intel or any company that is like hundred billion dollars plus they are basically at that point a capital allocator and their future depends on where they're allocating capital because they are generating large amounts of revenue, tens of billions of dollars a year in profits sometimes.

2:39Unnamed Ex-Intel Executive: And it all depends on where they bet their money on. And that is very, very similar to what most of you guys over here do and all my panelists over here. They are all running family offices or investment organizations. it always looks like something is too far off until it's not, right? And a lot of people, even when I was working at Intel, called AI a fad. It's just a hype. It's not going to work out. And right now, every pizza release out of OpenAI or Anthropic is taking out$60 to$70 billion off of the global markets, right? So it's actually causing a huge dent and very soon we'll see that most of the enterprises in the world will be very soon, meaning within the next five years, most of the enterprises in the world will be running with 80 % AI and 20 % humans.

3:40Unnamed Ex-Intel Executive: human in the loop will still be important up until next five to seven years but in next 10 to 15 years it might be like 99 percent AI and one person human human in the loop will still be required and maybe we'll never go out of one percent human and 99 it'll probably never be 100 percent AI but But the rate of progress that we're seeing in the top frontier model companies and where the industry is headed, that is likely to come. So I just wanted to share some insights on where the family offices or investment businesses need to focus on. It is the compute. It is the AI infrastructure.

4:24Family Office Podcast Host: Let me ask you a question. If there's only 1 % of human in the tool, what happens to humans? where do they go? You stop making babies according to what I heard and it's a doom and gloom I don't think AI will elevate to the Who is the AI servicing then? If there's no humans paying who is the AI running for? We all know about it

4:51Unnamed Ex-Intel Executive: I can actually answer that If they have no money to give you any business

4:57Family Office Podcast Host: That's a good panel today We're going to fight

5:04Unnamed Ex-Intel Executive: I can actually answer that. The size of the global economy, it will be actually doubling, tripling, quadrupling. So it will actually go, it will become very, very big. And even though I said 1 % in any organization, that doesn't mean that 1 % of the global population will be working. It's that 1 % of human effort and 99 % AI. So maybe the entire population in the world will still be employed. It's just that the size of global economy will actually go 100-fold. So it's not that humans are losing jobs. I think humans will still have jobs. They will actually have higher and higher-paying jobs. And it's just that the size of economies in every...

5:46Unnamed Ex-Intel Executive: Even the top guys at the Fed over here in the United States, they have been saying that U.S. economy will be doubling or quadrupling within the next 5 to 10 years. And that has never happened before. And most of the time, the size of the GDP is directly proportional to the amount of work done in the system. But now, the first time in the human civilization, we have outsourced thinking to the computer, which is a lot of work that we do. And 99 % of our work is already digitized. So we're at a point where AI can do our work, but also it can think, make decisions. but that does not necessarily mean that there is a theory that humans will lose jobs.

6:33Unnamed Ex-Intel Executive: I think humans will still have the job. They might need to do re-skilling, up-skilling and maybe there has to be a large-scale capacity building thing but the future is definitely AI and quantum computing. To those of you who still believe that AI is a fad I feel sorry for you because you guys have already been proved wrong. and some people are calling quantum computing a fad now but they will be proved wrong within the next five years too

7:03Family Office Podcast Host: I have something to add Revenge of the Nerds mixed with Terminator, future for us they're going to get back at us by show of hands who agree and who disagree with this he's a nice man hope for the rest are he's a decent man I try Well definitely a lot to think about the class struggles the humanity versus tech and Investment plays that we can make in the near term, but building those long-term relationships With other humans. I know humans are We're just humans we gotta we gotta try Because this AI is gonna turn on us we know we've been through cove is they're not gonna help us The economy will grow and we'll go to the same one to two people Don't buy it, you know, ain't gonna trickle down to you So my my takeaway is that after we listen to Richard we can tax it remarks We should make a point in during the networking hour at the very end to build some relationships with other humans in this room Tax the AI 80%.

8:19Family Office Podcast Host: Stop taxing the humans. Stop taxing the humans. Tax the AI 80%. All right. Big round of applause here for panel number six. Hi, I'm Richard C. Wilson. Our community has closed over$1 billion of transactions. We have over 16 million registered members across 100 plus LinkedIn groups. And I own billionaires.com and run Family Office Club. Over 19 years, we've hosted 300 live events. I've built 50 of our own AI tools. And between the billionaires I've interviewed, the centimillionaires who have spoken on stage and over a thousand decamillionaires who have presented, we've found there's three things that really can build your wealth.

8:58Family Office Podcast Host: Proximity, super intelligence, and scale. That's exactly what we provide at Family Office Club. We host 30 events a year, including five large summits for wealthy founders and investors, dozens of workshops and masterminds, including 12 artificial intelligence, laptops out, implementation workshops. So you leave with AI implemented. To learn more, please go to familyoffices.com. And I look forward to meeting you at our next live event. If you are a founder, raising capital, developing real estate, or you're an investor, we'd love for you to get involved in the Family Office Club. I've run this community for 18 years now.

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